private mortgage insurance

It's bad enough that we fork over gobs of money for all kinds of necessities, such as our mortgage payments, groceries, gas, and electricity. But it's a real shame when we fork over dollars needlessly, buying things we don't need -- like many kinds of insurance.

In what they say is an effort to reduce risk, private mortgage insurers plan to cut off or curtail third party originated loans beginning in early March, DailyFinance has learned. That decision will make it much harder to get a loan through an independent mortgage broker, where banks compete for...